The Finance Ministry, which owns 51 percent of the airline, was considering the capital-raising plan, which was also subject to approval from the ministry and cabinet, Raj Tanta-Nanta, a vice-president for investor relations said.

"We haven't concluded the exact number of the capital-raising, but it should not be more than THB25 billion," Raj said. The airline, in the process of overhauling operations and restructuring management, expected the fund-raising plan to be completed in the first half of this year, he said.

Last month, its board had agreed in principle to restructure up to THB20 billion in debt in a plan involving a bond issue and other capital-raising.

Airwise News (Reuters).

03.02.10